• Latest
Bitcoin Maximalists Pushing Harder Than Ever, But Market Diversity Is Growing

Bitcoin Maximalists Pushing Harder Than Ever, But Market Diversity Is Growing

January 6, 2020
ygg sea surpasses 10,000 scholarships in just six months of launch

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
mintable launches industry changing gas free minting service on ethereum

Mintable Launches Industry Changing Gas Free Minting Service on Ethereum

May 1, 2022
5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
bitcoin atm installed in mexico's senate building

Bitcoin ATM installed in Mexico’s Senate Building

April 27, 2022
cross chain services play a crucial role in facilitating continued adoption of defi applications

Cross-Chain Services Play a Crucial Role in Facilitating Continued Adoption of DeFi Applications

April 26, 2022
justin sun launches usdd, integrating the blockchain world and the real world with the decentralized stablecoin

Justin Sun Launches USDD, Integrating the Blockchain World and the Real World with the Decentralized Stablecoin

April 25, 2022
nfts: the next musical revolution

NFTs: The Next Musical Revolution

April 24, 2022
things you should know before investing in nfts

Things You Should Know Before Investing in NFTs

April 24, 2022
what are wrapped tokens?

What Are Wrapped Tokens?

April 23, 2022
what is the future of ethereum (eth)?

What is the future of Ethereum (ETH)?

April 22, 2022
green gaming

Everything You Need to Know About Play-to-Earn on Algorand in 2022

April 21, 2022
$ape going bananas as rumors of upcoming land sale of bayc metaverse gather momentum

$APE Going Bananas As Rumors of Upcoming Land Sale of BAYC Metaverse Gather Momentum

April 21, 2022
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
CoinNewsDaily
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
CoinNewsDaily
No Result
View All Result
Home Alt Coin

Bitcoin Maximalists Pushing Harder Than Ever, But Market Diversity Is Growing

coinnewsdaily by coinnewsdaily
January 6, 2020
in Alt Coin
0
Bitcoin Maximalists Pushing Harder Than Ever, But Market Diversity Is Growing
190
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Related articles

ygg sea surpasses 10,000 scholarships in just six months of launch

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
mintable launches industry changing gas free minting service on ethereum

Mintable Launches Industry Changing Gas Free Minting Service on Ethereum

May 1, 2022

Bitcoin appears to be recovering from a price correction that took place earlier this month, and is once again slowing moving up in the market rankings. The flagship cryptocurrency now holds a sixty-eight percent market share, more than double all other platforms combined. As Bitcoin has recovered, the debate over its ability to permanently remain top platform is heating up. Bitcoin maximalists have long asserted that it will never be replaced, and they are becoming ever more effective at spreading this message. Nevertheless, developments in the altcoin space are making this position ever more difficult to support.

Tone Vays, a noted Bitcoin Maximalist, recently claimed on his podcast that Bitcoin would soon cement its position as the dominant crypto, predicting that by the end of 2020 it would hold an eighty-five percent market share. Vays based this argument on Bitcoin’s overwhelming dominance in hash power as well as technical developments that will enable scaling and side chains. Vays’ position has been echoed by other analysts such as Jimmy Song and Nick Szabo. 

If Bitcoin is to reach this level of hegemony, traditional logic dictates that it will need to prove itself both technically superior and more user-friendly than a long list of highly competitive altcoins. Ethereum, for example, will soon take a major step forward on its roadmap, and a number of other platforms have begun to see real-world use by various industries. In fact, there is little doubt that the coming months will experience significant growth across the blockchain space, with adoption taking many forms.

For their part, Bitcoin developers are making impressive strides to update the platform. Notably, developments to the Lightning Network continue to advance, as do wallets and custodial storage providers. There is also more interest than ever by retailers to accept Bitcoin as a payment method. 

Perhaps the greatest example of Bitcoin maximalism can be seen in the mainstream media, which discusses Bitcoin almost exclusively when covering crypto development. In fact, whereas the general public is now familiar with Bitcoin, the most notable altcoins remain largely unknown. Likewise, discussion of blockchain technology remains almost entirely focused on cryptocurrency, rather than the more advanced features such as smart contracts or the Internet of things (IoT) applications. 

As various industries and global sectors begin to use distributed ledgers, there is no doubt that Bitcoin will need to share the spotlight with the competition. Thus, the conversation about blockchain development is all but certain to move toward alt platforms, although when this will happen remains to be seen. This fact does not mean that Bitcoin will fall from the top of the crypto hierarchy, yet if Bitcoin is to remain on top it will need to prove itself capable of functioning as a mass currency, which will be no easy feat. 

Regardless of where one stands on this issue, Bitcoin’s final status will ultimately be resolved by market forces. Despite being ten years old, the blockchain space remains far to volatile for any so-called expert to know if Bitcoin maximalism is a valid position. For now, it is thus best for all crypto advocates to keep an open mind about how development of all platforms will impact the modern world.

Tags: Alt CoinAltcoinblockchain technologyJimmy Songmainstream mediaNick Szabo
Share76Tweet48
Previous Post

Rivals Signature Bank and Prime Trust Team up to Offer Instant Payments for Institutions

Next Post

IBM Blockchain App Promotes ‘Virtuous Cycle’ for Sustainable Coffee

coinnewsdaily

coinnewsdaily

CoinNewsDaily.com is an online Crypto Coin News Website that aims to provide latest trendy news from market and around the world.

Related Posts

ygg sea surpasses 10,000 scholarships in just six months of launch
Alt Coin

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
mintable launches industry changing gas free minting service on ethereum
Alt Coin

Mintable Launches Industry Changing Gas Free Minting Service on Ethereum

May 1, 2022
5 projects enabling smart contract development on bitcoin
Alt Coin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
cross chain services play a crucial role in facilitating continued adoption of defi applications
Alt Coin

Cross-Chain Services Play a Crucial Role in Facilitating Continued Adoption of DeFi Applications

April 26, 2022
justin sun launches usdd, integrating the blockchain world and the real world with the decentralized stablecoin
Alt Coin

Justin Sun Launches USDD, Integrating the Blockchain World and the Real World with the Decentralized Stablecoin

April 25, 2022
things you should know before investing in nfts
Alt Coin

Things You Should Know Before Investing in NFTs

April 24, 2022
Load More
Next Post
IBM Blockchain App Promotes ‘Virtuous Cycle’ for Sustainable Coffee

IBM Blockchain App Promotes ‘Virtuous Cycle’ for Sustainable Coffee

Categories

  • Alt Coin
  • Bitcoin
  • Business
  • Ethereum
  • ICO
  • Litecoin
  • Mining
  • NFT
  • Ripple
  • Tech
  • Trading

What New here?

  • YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch
  • Mintable Launches Industry Changing Gas Free Minting Service on Ethereum
  • 5 Projects Enabling Smart Contract Development on Bitcoin
  • About Us
  • Contact Us
  • Privacy & Policy

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

  • bitcoinBitcoin(BTC)$27,938.000.85%
  • ethereumEthereum(ETH)$1,768.020.43%
  • tetherTether(USDT)$1.00-0.51%
  • binancecoinBNB(BNB)$328.500.99%
  • rippleXRP(XRP)$0.4567880.76%
  • cardanoCardano(ADA)$0.353235-1.22%
  • dogecoinDogecoin(DOGE)$0.073950-1.36%
  • matic-networkPolygon(MATIC)$1.100.78%
  • solanaSolana(SOL)$20.73-0.39%
  • polkadotPolkadot(DOT)$6.01-0.06%
  • litecoinLitecoin(LTC)$92.58-1.32%
  • shiba-inuShiba Inu(SHIB)$0.000011-0.10%
  • tronTRON(TRX)$0.064405-0.75%
  • daiDai(DAI)$1.000.31%
  • chainlinkChainlink(LINK)$7.190.24%
  • cosmosCosmos Hub(ATOM)$11.21-0.33%
  • leo-tokenLEO Token(LEO)$3.462.12%
  • moneroMonero(XMR)$160.03-3.25%
  • ethereum-classicEthereum Classic(ETC)$20.10-0.62%
  • okbOKB(OKB)$41.990.53%
  • stellarStellar(XLM)$0.0924350.02%
  • bitcoin-cashBitcoin Cash(BCH)$124.21-1.19%
  • filecoinFilecoin(FIL)$5.601.32%
  • crypto-com-chainCronos(CRO)$0.068340-1.50%
  • vechainVeChain(VET)$0.022821-0.88%
  • algorandAlgorand(ALGO)$0.209669-0.30%
  • internet-computerInternet Computer(ICP)$4.94-0.26%
  • eosEOS(EOS)$1.13-0.02%
  • elrond-erd-2MultiversX(EGLD)$42.51-0.13%
  • tezosTezos(XTZ)$1.151.47%
  • aaveAave(AAVE)$73.051.55%
  • theta-tokenTheta Network(THETA)$1.01-0.15%
  • neoNEO(NEO)$12.795.52%
  • paxos-standardPax Dollar(USDP)$1.00-0.81%
  • havvenSynthetix Network(SNX)$2.430.28%
  • bitcoin-cash-svBitcoin SV(BSV)$36.28-1.22%
  • pancakeswap-tokenPancakeSwap(CAKE)$3.73-0.04%
  • dashDash(DASH)$58.13-2.03%
  • makerMaker(MKR)$666.30-0.88%
  • huobi-tokenHuobi(HT)$3.66-0.60%
  • iotaIOTA(MIOTA)$0.2084100.10%
  • zilliqaZilliqa(ZIL)$0.027087-0.35%
  • zcashZcash(ZEC)$36.070.51%
  • basic-attention-tokenBasic Attention(BAT)$0.2435541.57%
  • nemNEM(XEM)$0.0393800.73%
  • Elrond ERDElrond ERD(ERD)$0.0259290.00%
  • qtumQtum(QTUM)$3.161.78%
  • kusamaKusama(KSM)$33.450.92%
  • compound-governance-tokenCompound(COMP)$42.07-1.69%
  • bitcoin-goldBitcoin Gold(BTG)$16.22-1.14%
  • yearn-financeyearn.finance(YFI)$8,348.61-0.16%
  • ftx-tokenFTX(FTT)$1.89-21.50%
  • omisegoOMG Network(OMG)$1.81-1.31%
  • golemGolem(GLM)$0.237979-0.82%
  • wavesWaves(WAVES)$2.14-0.62%
  • ontologyOntology(ONT)$0.2298892.41%
  • sushiSushi(SUSHI)$1.051.16%
  • digibyteDigiByte(DGB)$0.0096220.23%
  • umaUMA(UMA)$2.030.28%
  • ethlendAave [OLD](LEND)$0.53-3.08%
  • UniswapUniswap(UNI)$2.4438.80%